Aegis Logistics Limited has informed the Exchange about Business Transfer Agreement executed between the SCL and AVTL
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Aegis Logistics has informed the exchanges that its wholly owned subsidiary Sea Lord Containers Limited (SCL) has signed a Business Transfer Agreement (BTA) with associate company Aegis Vopak Terminals Limited (AVTL) to transfer the Cryogenic LPG Terminal at New Mangalore Port, which has a static LPG storage capacity of 82,000 MT. The transfer is on a slump sale, going concern basis. Under the deal, SCL will receive INR 671.30 crores (Six Hundred Seventy-One Crores and Thirty Lakhs) from AVTL upon execution of the BTA. The transaction is between related parties (subsidiary and associate) and has been carried out at arm's length basis. No special rights such as board appointments or share subscription rights have been granted. AVTL is Aegis Logistics' joint venture with Vopak.
The move consolidates a major LPG terminal asset into the Aegis-Vopak JV (AVTL), meaning the asset is no longer wholly owned by Aegis but shared with Vopak. SCL will receive ₹671.30 crores in cash, which could be used for debt reduction or further investment. Shareholders should note that future earnings from this terminal will flow through the associate company rather than fully to Aegis, which may affect the share of profits attributable to the parent.